Gold prices dropped on Wednesday as the dollar extended its uptick ahead of the Federal Reserve's monetary policy announcement.The U.S. central bank is widely expected to leave interest rates unchanged. The focus is on the accompanying statement for clues about the outlook for rates.At the press conference following the rate decision, Chair Jerome Powell may reiterate that the Fed is 'proceeding c...
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Market Analysis
May 08, 2026 15:50 ET Manufacturing and services sector survey results and labor market data from main economies were the highlight on the economics news front this week. Factory orders and jobs report dominated the news flow in the U.S. Similarly, industrial production data from German garnered attention in Europe. In Asia, purchasing managers’ survey results from China and the central bank decision from Australia were in focus.